Yizheng Zhongxing Recycled PET Project

Audit Analysis

The Yizheng Zhongxing Recycled PET Project is a registered VCS waste-handling project with a confirmed investment-test additionality assessment, but it carries a heavy burden of 12 material findings and 10 corrective actions covering coordinate errors, equipment inconsistencies, and methodology deviations. The project delivered only about 59% of its pro-rata ex-ante expectation for the elapsed monitoring period, which is conservative, yet the 0% leakage deduction is supported by contradictory justifications across two versions of the monitoring report. Low extraction confidence and multiple unquantified fields limit the overall reliability of the evidence base.

Project Description

Red Flags

• ⚠Twelve material findings in the verification report, including geographic coordinate errors, equipment nameplate mismatches after a retrofit, meter serial-number discrepancies, and an unreported methodology deviation on the build-margin emission factor
• ⚠Leakage justification is contradictory: the September 2023 monitoring report describes leakage as 'quantified' while the November 2023 version states it was 'deemed negligible' with a 0% deduction
• ⚠Minimum extraction confidence is rated low, indicating at least one key document was poorly readable, which undermines confidence in the completeness of the extracted record
• ⚠Stakeholder engagement documentation is incomplete: the verification report notes that outcomes of the 15-Mar-2021 stakeholder meeting and the public comment period were not properly accounted for in the PDD

Credit Vintages